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December 20, 2019
Can I get a loan with bad credit?
I have been dealing with bad credit for a while bc I got in a big debt when I was younger. I am better with my finances than before and I have more payment capacity, so I want a loan but since my credit is bad already, some banks i already applied denied me. What can I do?
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December 26, 2019
December 26, 2019
A lot of people deal with bad credit and it can really affect the process of getting a loan. It is possible to get a loan with bad credit. It might take a little bit more of time or to use alternative options - that can be as safe as traditional ones. To this particular case, the best option would be to show your new creditworthiness to the financial entity that you are trying to get the loan from. You can do this by getting in contact with a financial advisor or a bank officer to do the process in person and showing the proof needed to get the amount requested.
Another option to take into consideration is online lenders. Most of them do not take credit score as a decisive factor when doing the evaluation, but the rates might vary depending on what type of loan you are looking for. Online loans for bad credit borrowers normally offer installment and personal loans easier than others, the same way Credit Unions can be a good idea to get a loan because they are easy to apply and also offer good rates and APR’s.
If it is an emergency, you could also take into consideration to get a payday loan, but this one is very dangerous for its high rates, so make sure you would have the capacity to pay it back as precise when getting the loan.
If you need a quick loan & have bad credit, we give you all the information you need to know here.
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